Building a Safety Net for Care
Her life unraveled in six weeks — and the toll on Jerry’s family was both emotional and financial.
Jerry’s mother developed severe cognitive impairment that required selling her home and drained savings they’d hoped would support her care. Watching that happen motivated Jerry to act so his own family wouldn’t face the same crisis.
Jerry is 74 and generally healthy. His wife Mary has lived with a congenital condition her whole life, which limits the types of insurance she can get. Together they wanted a solution that would protect their finances and provide reliable care if they ever needed it.
Here’s the plan they chose.
- Jerry: hybrid long‑term care policy
Jerry is applying for a hybrid long‑term care policy. It helps pay for long‑term care if he needs it — and if he never uses it, the policy still functions as life insurance. That dual benefit gives him protection now and value later. - Mary: home‑care‑only policy
Mary isn’t eligible for the hybrid option, but she qualifies for a home‑care‑only contract. That coverage will pay for professional caregivers (Home Instead, Visiting Angels, etc.) to assist with bathing, dressing and daily tasks at home. Jerry can provide some care, but he wants the peace of mind that trained help will be available if he can’t.
Nobody loves paying premiums. Still, Jerry and Mary gain something more important: a security net they can count on if health needs escalate. That financial planning buys them dignity, stability, and less worry for their children.
If you’re looking for that same peace of mind, we design personalized security plans every day and are ready to help.Schedule a call today for help building a safety net for care: www.calendly.com/jimbetter. Find more resources in our blog.